Heller Companys balance sheet includes total assets of $3,871,000 and the following equity account balances at December 31:

teller's common stock is selling for $27 per share on December 31 . Required: 1. Determine how much Heller's Products would have reported for total assets and retained earnings on December 31 if the firm had declared and paid a $20,000 cash dividend on December 31. Prepare the journal entry for this cash dividend. 2. Determine how much Heller would have reported for total assets and retained earnings on December 31 if the firm had issued a 14% stock dividend on December 31. Prepare the journal entry for this stock dividend. 3. Conceptual Connection: How much would Heller have reported for total assets and retained earnings on December 31 if the firm had effected a 2-for-1 stock split on December 31 ? Is a journal entry needed to record the stock split? 1a. Determine how much Heller's Products would have reported for total assets and retained earnings on December 31 if the firm had declared and paid a $20,000 cash dividend on December 31 . Total assets Retained earnings 2a. Determine how much Heller would have reported for total assets and retained earnings on December 31 if the firm had issued a 14% stock dividend on December 31. Total assets Retained earnings 1b. Prepare the journal entry for this cash dividend on December 31. CENFRAI InIIR 2b. Prepare the journal entry for this stock dividend on December 31. 3. Conceptual Connection: How much would Heller have reported for total assets and retained earnings on December 31 if the firm had effected a 2-for-1 stock split on December 31 ? Total assets Retained earnings Is a journal entry needed to record the stock split? No Yes